High rents push millennials towards home buying
Americans in their 20s and early 30s made up 32 per cent of the US housing market in 2014, up from 28 per cent two years earlier
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AMERICANS in their 20s and early 30s are getting a nudge towards homeownership a decade after sales peaked during the housing bubble. It's not their nagging parents. It's rents. They've risen so much that buying is making more sense.
"I pay US$1,410 in rent for my one-bedroom apartment in downtown Denver," said Eric Arther, 28, who has saved about US$30,000 for a down payment. "If I pay that much, I'd like to build some equity."
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